topic Re: Business expenses in Get your taxes done using TurboTaxhttps://ttlc.intuit.com/community/taxes/discussion/re-business-expenses/01/13055#M6785
<P>No I did not entered a negative number. All business expenses were entered as a positive number.&nbsp;</P><P>The number that is going RED is the box on left upper corner where it shows how much you will get back or how much tax due you have.</P><P>Thanks for your input!</P>Sat, 16 Feb 2019 00:02:06 GMTpablino72019-02-16T00:02:06ZBusiness expenseshttps://ttlc.intuit.com/community/taxes/discussion/business-expenses/01/11894#M6782
<P>I own a single member LLC and when I enter my business expenses in turbo Tax, my Federal refund keeps getting smaller and smaller, before entering the expenses I had a refund, after the expenses I owe money, why is this? Thanks</P>Sun, 10 Feb 2019 00:50:09 GMThttps://ttlc.intuit.com/community/taxes/discussion/business-expenses/01/11894#M6782pablino72019-02-10T00:50:09ZRe: Business expenseshttps://ttlc.intuit.com/community/taxes/discussion/re-business-expenses/01/11970#M6783
<P>I am just guessing here:&nbsp;</P><P>&nbsp;</P><P>are you entering the expenses with a negative sign - don't do that. is that the problem?&nbsp; Look at Schedule C? does it look right?</P><P>&nbsp;</P><P>also, where are you looking to confirm the refund is getting smaller? can you please explain?&nbsp;</P>Sun, 10 Feb 2019 16:15:28 GMThttps://ttlc.intuit.com/community/taxes/discussion/re-business-expenses/01/11970#M6783NCperson2019-02-10T16:15:28ZRe: Business expenseshttps://ttlc.intuit.com/community/taxes/discussion/re-business-expenses/01/12054#M6784
<P>It's also possible that you qualify for the Earned Income Credit, which is a refundable credit based on income. In some cases, if your income goes down (because your expenses went up) your Earned Income Credit goes down as well.</P>Sun, 10 Feb 2019 22:11:49 GMThttps://ttlc.intuit.com/community/taxes/discussion/re-business-expenses/01/12054#M6784IsabellaG2019-02-10T22:11:49ZRe: Business expenseshttps://ttlc.intuit.com/community/taxes/discussion/re-business-expenses/01/13055#M6785
<P>No I did not entered a negative number. All business expenses were entered as a positive number.&nbsp;</P><P>The number that is going RED is the box on left upper corner where it shows how much you will get back or how much tax due you have.</P><P>Thanks for your input!</P>Sat, 16 Feb 2019 00:02:06 GMThttps://ttlc.intuit.com/community/taxes/discussion/re-business-expenses/01/13055#M6785pablino72019-02-16T00:02:06ZRe: Business expenseshttps://ttlc.intuit.com/community/taxes/discussion/re-business-expenses/01/13056#M6786
<P>I guess that is possible but I figure the more expenses I enter my refund should get bigger and not smaller.</P><P>I was seating at a $121 refund to me then after I entered $9,000 as a business expense my credit went to red and now I owe them $141, Just does not make sense to me, thanks for your input!</P>Sat, 16 Feb 2019 00:05:48 GMThttps://ttlc.intuit.com/community/taxes/discussion/re-business-expenses/01/13056#M6786pablino72019-02-16T00:05:48ZRe: Business expenseshttps://ttlc.intuit.com/community/taxes/discussion/re-business-expenses/01/13065#M6787
<P>suggestion - go back to the point where there was a $121 refund.</P><P>&nbsp;</P><P>Then review Schedule 5; record the numbers on this schedule. Also look at Form 1040 lines 9, 10 and 17- record those as well.&nbsp;</P><P>&nbsp;</P><P>Then input the ~$9k in expenses&nbsp;</P><P>&nbsp;</P><P>look at schedule 5 again as well as Form 1040 lines 9, 10 and 17&nbsp;</P><P>&nbsp;</P><P>&nbsp;what changed?</P><P>&nbsp;</P><P>&nbsp;</P><P>&nbsp;</P>Sat, 16 Feb 2019 01:11:01 GMThttps://ttlc.intuit.com/community/taxes/discussion/re-business-expenses/01/13065#M6787NCperson2019-02-16T01:11:01Z